Michael Schmertzler Joins Kolltan Pharmaceuticals as CEO and ...

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Dec 3, 2012 (4 years and 11 months ago)

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Michael Schmertzler Joins Kolltan Pharmaceuticals as CEO and Director


Yaron Hadari, Ph.D., Named Vice President of Research


NEW HAVEN, CT
-

January 8, 2009

-

Kolltan Pharmaceuticals, a next
-
generation
oncology therapeutics company, announced today
the appointment of Michael
Schmertzler as Chief Executive Officer and Director, and Yaron Hadari, Ph.D., as Vice
President of Research. Mr. Schmertzler brings to Kolltan over 30 years of leadership
experience in the biotechnology, private equity and invest
ment banking industries. Dr.
Hadari has a rich background in receptor tyrosine kinase (RTK) research and the
development of monoclonal antibody therapeutics, the core of Kolltan’s technology
platform.


Arthur G. Altschul, Jr., Co
-
Founder and Chairman of th
e Board of Kolltan, stated, “We
are excited to welcome Mr. Schmertzler and Dr. Hadari to Kolltan. Mr. Schmertzler’s
drive, experience and knowledge make him uniquely and wonderfully qualified to serve
as Kolltan’s CEO, and Dr. Hadari’s experience in develo
ping antibody
-
based anti
-
cancer
therapeutics will be invaluable to advancing the Company’s R&D programs.”


Mr. Schmertzler has spent much of his career building, financing and investing in early
-
stage healthcare companies. He founded Morgan Stanley’s biote
chnology investment
banking business; has been an active senior institutional investor and director in early
-
stage biotechnology companies for over fifteen years; and currently serves as Chairman
of PTC Therapeutics and as a Director of Cytokinetics. Mr. S
chmertzler was co
-
head of
a $3 billion private equity fund at Credit Suisse and President of the $2 billion Morgan
Stanley Private Capital Funds. He also served as a Managing Director in the Mergers
and Acquisitions Department and as an industry group head

at Morgan Stanley; and as
a Managing Director, Head of International Investment Banking and Sales and Trading,
as well as Chief Financial Officer, of Lehman Brothers in the 1980’s.


Since 1997, Mr. Schmertzler has been on the faculty of Yale College and t
he Yale
School of Management. He is also a Governor of the New York Academy of Science, a
Trustee of Phillips Academy and Chair of the National Outdoor Leadership School. Mr.
Schmertzler received a Bachelor of Arts degree in Molecular Biophysics and
Bioche
mistry from Yale, attended Princeton’s Woodrow Wilson School, and holds an
MBA degree from Harvard Business School.


“I am delighted and privileged to have this opportunity to work with Arthur, Joseph and
Yaron to build Kolltan,” commented Mr. Schmertzler.

“The sophistication and compelling
utility of the discoveries made by Dr. Schlessinger that Kolltan has licensed from Yale
have enabled the Company to raise substantial funding from a strong, experienced
group of investors and will allow us immediately to

begin developing therapeutics against
well
-
defined and validated targets."


Prior to joining Kolltan, Dr. Hadari spent seven years at ImClone Systems, most recently
as the Senior Director of the Cell Biology Department. In this role he oversaw several
ear
ly
-

and late
-
stage projects to develop monoclonal antibodies as anti
-
cancer
therapeutics. During his academic career, including postdoctoral studies under the
supervision of Dr. Schlessinger, Dr. Hadari focused his research on the important
biological role

of several RTKs and the signal transduction pathways downstream to
these important receptors. Dr. Hadari’s work has been published in numerous peer
-
reviewed journals.


Dr. Hadari received his Ph.D. degree from the Department of Molecular Cell Biology at
t
he Weizmann Institute of Science, Rehovot, Israel. Dr. Hadari also holds a Masters of
Science degree from the Department of Chemical Immunology at the Weizmann Institute
of Science, and a Bachelor of Science degree from Hebrew University, Jerusalem, Israel
.
Dr. Hadari is a member of the American Societies of Cancer Research.


About Kolltan Pharmaceuticals


Kolltan is a development
-
stage company advancing therapeutics that target well
-
defined
and validated molecular mechanisms of disease in areas of critical

clinical need. Kolltan
is developing a new generation of monoclonal antibody oncology therapeutics based on
recent, seminal discoveries made in the laboratory of Dr. Joseph Schlessinger,
Chairman of the Department of Pharmacology at Yale University. These

proprietary
discoveries elucidate novel molecular mechanisms underlying the activation of receptor
tyrosine kinases, which regulate key cell processes and play a pivotal role in
oncogenesis.


Contacts


Burns McClellan

Justin Jackson, 212
-
213
-
0006

jjackson
@burnsmc.com